Speech and Voice Recognition Market Worth $26.79 Billion by 2025- Exclusive Report by Meticulous Research®
Speech and Voice Recognition Market by Type (Speech and Voice Recognition), End User (Automotive, Healthcare, BFSI, Education, Legal), Technology (Artificial Intelligence and Non-Artificial Intelligence), and Geography - Global Forecast to 2025
Speech and Voice Recognition Market - Global Opportunity Analysis and Industry Forecasts (2019-2025)
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Growth of the global speech and voice recognition marketis mainly attributed to increasing usage of voice-enabled applications especially for home activities including operating smart devices, making online purchases, playing music, ordering meals, and so on. In addition, increasing adoption of voice-enabled teaching aids and evaluation system in education sector; integration of in-car infotainment systems; increasing demand for voice-enabled applications in healthcare equipment; growing adoption of voice-biometric technologies particularly in BFSI, enterprise, and government sector is also supporting rapid growth of the speech and voice recognition market.
To provide efficient analysis, Meticulous Research [(R)] has segmented this market on the basis of type (speech recognition, and voice recognition), end-user (automotive, healthcare, BFSI, education, hospitality, government and public services, manufacturing/enterprise, retail and e-commerce, legal, consumer electronics, and military and defence), technology (artificial intelligence, and non-artificial intelligence), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
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In terms of type, speech recognition technologies accounted for the largest share of this market owing to increasing demand for voice-enabled devices along with growing customer confidence in smart technologies, increasing usage of voice assistants particularly for online purchases, and consistent proliferation of advanced technologies.
Voice and speech recognition technologies authorize contactless control to several devices and equipment that delivers input for automatic translation and generates print-ready dictation. The speech recognition devices have the capability to respond to voice commands. The growth of the overall speech and voice recognition market is primarily driven by factors, such as rising acceptance of advanced technology together with increasing consumer demand for smart devices, a growing sense of personal data safety and security, and increasing usage of voice-enabled payments and shopping by retailers.
Here are the top 10 companies operating in the global speech and voice recognition market – https://meticulousblog.org/top-10-companies-in-speech-and-voice-recognition-market/
Scope of the Report:
Market by Function
Speech Recognition
Automatic Speech Recognition
Text to Speech
Voice Recognition
Speaker Identification
Speaker Verification
Market by End-User
Automotive
Healthcare
BFSI
Education
Hospitality
Government and Public Services
Manufacturing/Enterprises
Retail and E-Commerce
Legal
Consumer Electronics
Military and Defense
Market by Technology:
Artificial Intelligence
Non-Artificial Intelligence
Market by Geography:
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of the Europe
AsiaPacific
India
China
Australia And New Zealand
Japan
Rest of AsiaPacific
Latin America
Middle East and Africa
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The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Nuance Communications (U.S.), Google LLC (U.S.), Apple, Inc. (U.S.)., Amazon.com, Inc. (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), iFlytek (China), Baidu (China), LumenVox LLC (U.S.), Sensory, Inc. (U.S.), Sestek (Turkey), and Dolbey Systems, Inc. (OH) among others.
Geographically, North America commanded the largest share in this market followed by Asia-Pacific. The major share of North America is mainly attributed to the easy availability of voice-enabled smart devices, greater consumer acceptance for advanced technologies, and increasing demand for high-level secured authentication devices. Furthermore, existence of major voice and speech recognition technology companies and availability of their revolutionary forthcoming products appearances is also expected to support the growth of the voice and speech recognition technologies over the coming years.
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Meticulous Research™
chhagan yadav
Tel: +91 744-7780008
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results